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Mark Calabria was approved by the Senate Banking Committee on a party-line vote (13-12) to advance his nomination to the full Senate for confirmation as Director of the Federal Housing Finance Agency (FHFA). The FHFA Director oversees the government sponsored enterprises (GSEs) Fannie Mae and Freddie Mac, as well as the Federal Home Loan Bank (FHLB).

Senator Mike Crapo (R-ID), Chairman of the Senate Banking, Housing, and Urban Affairs Committee, released an outline for reform of the housing finance system that would convert Fannie Mae and Freddie Mac into private guarantors of mortgage-backed securities to be sold through a platform operated by Ginnie Mae.

The Office of the Comptroller of the Currency (OCC), The Federal Reserve Board, and the Federal Deposit Insurance Corporation (FDIC) recently invited comment on a proposed rule change governing when appraisals are required for certain residential real estate transactions. The proposed rule would increase the threshold level for when appraisals are required from $250,000 to $400,000, meaning transactions at or below $400,000 would not be required to conduct an appraisal.

On January 31, Governor Baker announced funding to help end youth homelessness through grants to local providers and a new housing pilot to support homeless youth and to help connect them with education, employment, and housing supports and services. In total, the Baker-Polito Administration awarded $3 million in funding to ten community partners throughout the state will help youth and young adults with the supports they need to prevent or end homelessness.

As the lights turned on at HUD after the longest government shutdown in U.S. history, the department renewed funding for thousands of local homelessness programs, including over $78 million directed at Massachusetts that will be disbursed to 196 local organizations. Here is a complete list of Massachusetts grants.

With the beginning of the new 2019-2020 state legislative session in January, CHAPA announced its legislative agenda. CHAPA's priorities include bills that will help increase access to affordable housing, protect fair housing, strengthen tenant protections to reduce displacement, and build stronger communities throughout the Commonwealth.
For a brief description of CHAPA's legislative priorities, click here.